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6waves Lolapps secures $35 million in funding

Insight Venture Partners leads successful round for newly merged company

The social publisher and developer 6waves Lolapps has raised an additional $35 million in funding, according to an SEC filing.

The latest round of funding was led by Insight Venture Partners, the same company that found $17.5 million in equity financing for 6waves in January 2010.

6waves Lolapps was formed when Korean publisher 6waves and Ravenwood Fair developer Lolapps merged last month. The move would have left the company second only to Zynga in terms of MAUs, but EA's acquisition of PopCap prevented that from happening.

"As independent companies we're both doing very well," Lolapps CEO Arjun Sethi told GamesIndustry.biz at the time. "We're both on growth mode, but it seemed like a much better idea to speed up our efforts, and the merger allows us to execute on that even faster."

The company's most successful game, Ravenwood Fair, reported 10 million MAUs in February, but the social tracking site AppData indicates that number has since dropped to around 5 million.

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Matthew Handrahan

Editor-in-Chief

Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.